BANKS SOLID, SAY BROKERS

Political uncertainty still weighs on stocks as foreign net selling in the equity market so far this year has passed the Bt60 billion mark.

Still, some believe there's light at the end of the tunnel.

Chaipatr Srivisarvacha, CEO of Seamico Securities, sees less of a downside to the SET than an upside.

The bullish view is for the banking sector as well.

Brokerages said bank profits would be buoyed by steady loan growth, particularly for corporate customers, and higher fee income.

Tisco Securities argues that local banks are cheap, with an average price-per-book value of 1.4 times, lower than the 1.7 times average for the region.

Tisco's top picks are Siam Commercial Bank (SCB) and Bangkok Bank (BBL) with target prices of Bt96.50 and Bt150, respectively.

SCB Securities Co Ltd also recommends a "buy" for Kasikornbank and BBL as long-term prospects with target prices at Bt106 and Bt154, respectively.

Correction

The NPA Grand Sale item published in this column on Wednesday contained an inaccuracy. The correct version should read "investors can make a reservation for a Kiatnakin Bank NPA by depositing at least Bt10,000". We regret the error.